(l-r) 310 East 86th Street, 250 East 83rd Street, and 300 East 83rd Street
Following the success of their downtown projects (The Flynn in Chelsea, 15 Renwick Street in Soho, and 93 Worth Street in Tribeca), developer Izaki Group Investments and designer ODA Architecture. bring their partnership uptown to 310 East 86th Street. The Real Deal reports that the developer purchased the site from Extell Development for $42 million in March 2017. More recently, a site visit saw construction nearing its 20-story height, and renderings depict a cantilevering structure with multiple setbacks.
The oversized windows seen in the renderings promise abundant natural light in all units, and many apartments will have private outdoor space. An offering plan accepted in February 2021 lists a $255.2 million sellout and indicates that prices for the 68 condos will start at $2.05 million for two-bedrooms and $3.55 million for three-bedrooms. It also lists a pair of three-bedroom penthouses with expansive private terraces; these will start at $7 million.
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Residential amenities are set to include a fitness center, lounge, art room, music practice room, library, children’s playroom, and rooftop terrace. Private storage will be available for purchase. It is close to the 92nd Street Y, Carl Schurz Park, gourmet supermarkets, and top private schools.
Most significantly, it is steps from the Second Avenue subway’s stop at East 86th Street, which has spurred a local building boom. The two-building Beckford House and Tower development has utterly transformed its stretch of Second Avenue and was home to last week’s top luxury contract with a $29 million penthouse. Two blocks away, the majority of units at the Robert A.M. Stern-designed 200 East 83rd Street has entered contract; a pair of one-bedroom availabilities starts at $2.05 million.
Second Avenue Subway entrance at 303 East 83rd Street (Equity Residential)
Rendering of 250 East 83rd Street
250 East 83rd Street, June 2022 (CityRealty)
These luxury buildings are going fast, but they do not represent the only opportunities to purchase in the area. Far from it–down the street from 200 East 83rd Street, construction recently commenced on what will be a 23-story tower at 250 East 83rd Street. Renderings depict an Art Deco-inspired tower with multiple setbacks and a light-colored facade; upon completion, it will house 106 residential units on top of commercial space. Torkian Group is the developer, and SLCE Architects is listed as the designer of record.
Demolition permits for the four-story building previously on-site were filed in March 2019; in addition to apartments on top, it housed Italian restaurant Erminia. Erminia was named one of America’s most romantic restaurants by OpenTable in February 2018, but closed in the wake of the pandemic and has not announced plans to open elsewhere.
Demolition permits for the four-story building previously on-site were filed in March 2019; in addition to apartments on top, it housed Italian restaurant Erminia. Erminia was named one of America’s most romantic restaurants by OpenTable in February 2018, but closed in the wake of the pandemic and has not announced plans to open elsewhere.
(Lalezarian Properties)
300 East 83rd Street, June 2022 (CityRealty)
Across Second Avneue, Lalezarian Group is at the helm of a new project at 300 East 83rd Street with SLCE Architects as the designer of record. Lalezarian sued the owner of a neighboring building in September 2021, saying their inability to access it was holding up their project, but evidently prevailed—construction is now underway. Renderings depict a 22-story building towering over its low-rise neighbors and sporting a tasteful facade. It is not known yet whether the 70 units will be condos or rentals; the average apartment size of 1,203 square feet is indicative of condos, but an offering plan has not been filed yet, if at all.
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